suresh Patel

Please advise on disclosure of foreign income abroad. If I had £100k (1cr in rupees ) saving in a fixed rate bond at 10%I would make £10k (10 lacs rupees) in interest and pay 20% tax of £4K (4lacs in rupees ) If I pay the capital gains tax in uk . My fixed rate bond of £107k will auto renew the following year with a new interest rate say again 10% so capital gain will be of £107K- £4k = £103K because I have already paid the tax in uk ! Also what Happens to the PSA of £1000 .Also exchange rates have changed.

Urgent help needed.I am stuck on the following. How much offshore income did you not tell HMRC about the tax year ending 2023. What is the amount of chargeable transfers you did not tell HMRC What is the amount of gains you did not tell HMRC How much unpaid tax is due How much interest is due .Thanks.

Urgent advice needed .How do I fill in the worldwide disclosure form online when the bank in India has froze the accounts since 2021 because it had been dormant since covid 2020 . I have emailed various documents Jan 2022 and also October 2022 but I have no response from them I only have less than 90 days to submit this form .

Fixed rate bonds held in bank in India .How can you pay tax on your investments if the money hasn’t yet been remitted to uk .Plus due to covid visas to India have been suspended! Only just reinstated dec 6 2022 .Bank have suspended accounts due to no activity and only reinstated them if you go with the right documentation.So one wouldn’t really know how much interest they are making if the bank don’t reply to you emails .

Hi Team . I have just received a tax letter about knowing my details of saving in India . I have not visited India since 2020 and then covid and visa suspension. My bank account has been frozen since there has been no activity for several years .We have a large amount of saving in Fixed bonds which we opened many years ago . Do we pay tax on money when we repatriate back to Uk in the near future .